Goldman Sachs Maintains Buy on Info Edge with Rs 1,410 Target

Goldman Sachs has maintained its Buy rating on Info Edge (the parent company of popular Indian job portal Naukri.com) with a target price of Rs 1,410. This implies about a 7% upside from the last close of Rs 1,318.

The brokerage cites premium hiring growth and new products as key drivers behind its call. Specifically, it notes that Billings growth is being driven by premium hiring, which is growing at an annual rate of 25-30%. The recruitment business remains diversified, with multiple category-leading businesses under the Info Edge umbrella.

Goldman Sachs also highlights the strong performance of JobHai, a new product launched in May this year, which aims to double revenue in FY27 compared to FY26. Meanwhile, the real estate classifieds segment is expected to see 20-25% sustainable annual billings growth.

The brokerage's stance is based on Info Edge's diversified portfolio and multiple growth drivers. It notes that a slowdown in white-collar hiring does not directly translate into a slowdown for the group due to its diversified business model.